Baldwin Investment Management LLC Has $2.29 Million Holdings in Constellation Brands, Inc. (NYSE:STZ)

Baldwin Investment Management LLC lowered its stake in shares of Constellation Brands, Inc. (NYSE:STZ) by 12.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,870 shares of the company’s stock after selling 1,249 shares during the period. Baldwin Investment Management LLC’s holdings in Constellation Brands were worth $2,286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. International Assets Investment Management LLC lifted its holdings in shares of Constellation Brands by 23,184.7% during the 3rd quarter. International Assets Investment Management LLC now owns 499,689 shares of the company’s stock valued at $128,765,000 after purchasing an additional 497,543 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in Constellation Brands in the second quarter valued at approximately $119,394,000. Boston Partners boosted its holdings in shares of Constellation Brands by 50.9% in the first quarter. Boston Partners now owns 975,589 shares of the company’s stock valued at $265,099,000 after buying an additional 328,881 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Constellation Brands by 31.8% during the second quarter. Dimensional Fund Advisors LP now owns 1,002,332 shares of the company’s stock worth $257,865,000 after acquiring an additional 241,982 shares in the last quarter. Finally, Coho Partners Ltd. raised its holdings in shares of Constellation Brands by 40.1% during the third quarter. Coho Partners Ltd. now owns 283,079 shares of the company’s stock worth $72,947,000 after acquiring an additional 80,970 shares during the period. 77.34% of the stock is currently owned by institutional investors and hedge funds.

Constellation Brands Price Performance

Shares of NYSE STZ opened at $233.68 on Wednesday. The firm has a market cap of $42.43 billion, a P/E ratio of 75.62, a price-to-earnings-growth ratio of 1.71 and a beta of 0.90. The business’s 50 day moving average is $242.42 and its 200-day moving average is $247.08. The company has a current ratio of 1.25, a quick ratio of 0.53 and a debt-to-equity ratio of 1.31. Constellation Brands, Inc. has a 1-year low of $224.76 and a 1-year high of $274.87.

Constellation Brands (NYSE:STZ) last posted its quarterly earnings data on Thursday, October 3rd. The company reported $4.32 earnings per share for the quarter, topping the consensus estimate of $4.08 by $0.24. Constellation Brands had a return on equity of 25.34% and a net margin of 5.29%. The firm had revenue of $2.92 billion for the quarter, compared to analysts’ expectations of $2.95 billion. During the same quarter last year, the business earned $3.70 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts predict that Constellation Brands, Inc. will post 13.57 earnings per share for the current year.

Constellation Brands Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, November 21st. Investors of record on Tuesday, November 5th were paid a $1.01 dividend. This represents a $4.04 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Tuesday, November 5th. Constellation Brands’s dividend payout ratio (DPR) is currently 130.74%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on STZ shares. Roth Mkm reaffirmed a “buy” rating and issued a $298.00 target price on shares of Constellation Brands in a research note on Friday, October 4th. Bank of America reaffirmed a “neutral” rating and set a $255.00 price objective (down from $300.00) on shares of Constellation Brands in a research report on Monday, October 7th. BNP Paribas started coverage on Constellation Brands in a research report on Monday. They issued a “neutral” rating and a $261.00 target price on the stock. Truist Financial reduced their price target on Constellation Brands from $265.00 to $255.00 and set a “hold” rating for the company in a research report on Friday, October 4th. Finally, BMO Capital Markets lowered their price objective on shares of Constellation Brands from $315.00 to $305.00 and set an “outperform” rating on the stock in a report on Tuesday, October 15th. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Constellation Brands currently has an average rating of “Moderate Buy” and an average target price of $289.16.

Insider Buying and Selling at Constellation Brands

In other Constellation Brands news, Director Robert Sands sold 119,274 shares of the firm’s stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $242.37, for a total value of $28,908,439.38. Following the sale, the director now owns 431,729 shares of the company’s stock, valued at approximately $104,638,157.73. This trade represents a 21.65 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO William A. Newlands sold 7,426 shares of the company’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $237.24, for a total value of $1,761,744.24. Following the sale, the chief executive officer now owns 7,274 shares of the company’s stock, valued at approximately $1,725,683.76. This represents a 50.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 189,956 shares of company stock valued at $46,058,091 in the last three months. Corporate insiders own 12.19% of the company’s stock.

About Constellation Brands

Constellation Brands, Inc, together with its subsidiaries, produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy. The company provides beer primarily under the Corona Extra, Corona Familiar, Corona Hard Seltzer, Corona Light, Corona Non-Alcoholic, Corona Premier, Corona Refresca, Modelo Especial, Modelo Chelada, Modelo Negra, Modelo Oro, Victoria, Vicky Chamoy, and Pacifico brands.